Phoenix, AZ (May 8, 2019) – A Texas private
equity firm announced the purchase of Axolotl Biologix, Inc. a biotechnology
leader in regenerative medicine. Terms of the deal were not disclosed.

With the
purchase, Axolotl board member Gary Lauterbach accepted the role of Interim CEO
as Phil Larson exits. Other staff, including Chief Science Officer Robert
Kellar, Ph.D. and Senior Director of Research & Development Robert B
Diller, Ph.D., will remain as the company expects to initiate FDA clinical
trials of its current products and others under development.

“The investment
by the private equity company allows Axolotl Biologix to execute a more
long-term strategy which includes conducting FDA approved clinical trials to
further grow acceptance and adoption of our regenerative products,” said
Lauterbach. “The team and products at Axolotl are top notch, and we’re
very excited about both the short and long-term opportunities awaiting Axolotl
Biologix.”

Gary
Lauterbach’s goal is to expand distribution of Axolotl products beyond the 500
offices and clinics across the U.S. already utilizing the company’s products
and secure new partners as a GSA Contractor.

About Axolotl Biologix:

Axolotl
Biologix, Inc. is an innovative biotechnology leader in regenerative medicine
through research, technology and clinical application. Axolotl Biologix is
expanding the human body’s ability to regenerate by developing and
manufacturing regenerative human cell and tissue medical technologies that are
disrupting traditional, more invasive, painful and expensive treatment
protocols. For more information, visit www.axobio.com